Pre-Trading Thoughts
Manage episode 335975393 series 2987212
Egypt has again appealed to the UN Security Council to intervene in the dispute with Ethiopia over the Grand Ethiopia Renaissance Dam (GERD).
The distribution arm of Abu Dhabi National Oil Company (ADNOC) has agreed to acquire 50% of Total Energies Egypt for USD 186 mn. Total Energies represents EGP2.52/share out of BINV’s total SoTP valuation of 17.67/share.
315 Egyptian contractors registered to participate in El-Dabaa nuclear power plant as part of the local component of the project.
The first phase of high-speed rail line that will ultimately link Ain Sokhna to Marsa Matrouh will be inaugurated on 7 November. (Siemens, ORAS, and Arab Contractors)
AMIC: Passenger car sales dropped in June 22 to record 12k vehicles (-35% YoY), I H22 sales is 92k vehicles (-8.7% YoY). June is the first month to record a positive MoM change of 4.4%.
AUTO raised its selling prices for its Hyundai and Cherry models offered in the "Go Green" program by an average of EGP30k-35k per car.
The car manufacturing strategy has been finalized by the cabinet and will be presented to the parliament by October 2022 for approval.
EGTS lawsuit concerning the 20.0 million sqm third phase Sahl Hasheesh land plot, the court had reserved the case for ruling for today, 31 July 2022.
ORHD plans to launch two residential phases and start construction of the administrative area in 4Q22 in O West.
EMFD launched the North Coast project, Soul, which is the partnership project between Eagle Hills Egypt (25% stake for EMFD).
ZMID reported a 21.8% y/y increase in 1H22 net profit to EGP109.7 million.
Banque Misr’s acquisition of CICH's consumer finance arm, Souhoola, went through last week in a transaction valued at EGP 173 mn, or 43x P/B.
HRHO has settled on listing Valu on the Egyptian Stock Exchange over the next two years.
Amendments to the Telecommunication Regulation would toughen penalties for the use, operation, installation, or importation of any mobile device or telecom equipment not approved by NTRA.
FWRY signed a strategic partnership with zVendo.com, an e-commerce platform. Under the agreement, FWRY will provide different digital payment solutions for zVendo customers.
The government is engaged in serious discussions with investors and major players within the healthcare sector, aimed at higher participation of the private sector in the management of government hospitals.
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